UAE and US discuss strengthening economic ties

25 Jun 2019

flagsThe UAE and US have discussed boosting economic ties in a meeting in Washington and building on what has long been a strong trade relationship, The National reports.

The talks, which formed part of the sixth US-UAE Economic Policy Dialogue, covered a range of issues such as space, food security, artificial intelligence, innovation, the digital economy, technology and health.

Bilateral trade in goods between the two countries totalled to about $25 billion (Dh91.8bn) in 2018, three-quarters of which were made up of US exports to the UAE and therefore accounting for the US’s fourth largest trade surplus globally.

Furthermore, the UAE has been the US’s largest trading partner from all of the Middle East and North Africa for over a decade, while the US is one of the UAE’s most important global economic partners.

The US State Department said: "It was underlined that there remains significant scope for the United States and UAE to bolster their cooperation and explore new opportunities in these fields to the mutual interest of both sides.”

The two countries also discussed working together in favour of the Women's Global Development and Prosperity (W-GDP) Initiative, which was founded by the US in an effort to boost opportunities for women in business roles.

Another point addressed was civil aviation, with both parties highlighting the importance of following the Open Skies policy agreement.

The talks successfully tackled a multitude of important issues and underscored the Economic Policy Dialogue as a powerful platform for boosting bilateral ties and dealing with trade obstacles, as well as bettering investment opportunities.